Panama, a developed country that has recently gained a strong foothold globally, has come up to the category of an upper middle income country and is famous for having the strongest level of infrastructure in Central America.

The economy of Panama is quite prosperous and the sources of income are also variable based on agriculture, light industry, revenues from the Panama Canal and the service sector as well.

More than half of the Panama land is dedicated to the agricultural sector, where the main economical gain is in crops, such as the following: sugarcane, coffee and bananas.  These crops are also used mainly for international sales and are shipped to the United States as well as other Latin American countries. In Panama, the food crops grown for local consumption are mainly rice, maize and beans. Although these crops are mainly used for local consumption, exportation of the aforementioned crops is quite common.  Cattle rising are also very well-known in Panama. Fishing is also a common and popular activity in Panama, where shrimps are found in bulk and also known for its exportation to many countries. Panama, known for its ample forests and rich in trees, has momentous reserves of timber, where mahogany is much in demand.